U.S. Dollar Index Stabilizes in April and Sell off in May

Though the longer-term picture for the U.S. Dollar Index appears bleak, with a downside target of $0.80 to $0.81 by June, models suggest the short-term outlook indicates some upward pressure building in April. Resistance is set at $0.8670 during this expected advance. Monty Carlo simulation supports the models outlook with a 95% probability that the currency will trade outside of the $0.70 to $0.83 band over the next 100 days.

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